Globalization
Essay Preview: Globalization
Report this essay
Mohammed Al Roumi
Political Science 2401
10/6/2005
Globalization
In todays modern society there are many issues that have shaped who we are today and where we are headed. With development in virtually every field from arts to telecommunications, we live in a world without borders. Globalization is the result of such developments and we must understand its significance. Globalization is a modern term used to describe the changes in societies and the world economy that result from dramatically increased international trade and cultural exchange.
Globalization is a revolution that is expanding across the globe rapidly and is altering the global background. When you log onto the internet, talk on your cellular phone from one part of the world to a friend in another part of the world, and observe events from around the world live from your own television set; these changes are all due from the result of globalization. Globalization leads to a more efficient share of resources, with all countries involved in the trade benefiting. In general, as a result to globalization, prices of goods are lower; more employment around the world, there is higher output, life expectancy rate doubled in the developing world and democracy has spread rapidly across the borders.
An example of a country that has been heavily affected by globalization is China.
From an underdeveloped country it has transformed into a global power house. Since 1978 when it first initiated its “Open Door” policy, China has been one of the major growth spots for international trade and investment. Between 1978 and 2000 foreign trade increased drammatically and today China is the premier recipient of foreign direct investment in Asia. Moreover, exports and foreign investment now generate a full 40 percent of Chinas GDP. With the Chinese economy growing at an annual rate of close to 10 percent for much of the past two decades, Chinese people, to varying degrees, have benefited financially from engagement in the global economy.
So, Is Globalization a positive development for the world community? According to Timothy Taylor it is. Taylor (an economist) bases his argument on the front that globalization has provided for certain economic trends that have had positive results for a major part of the worlds population. Taylor starts supporting globalization by saying that foreign investment in all countries have helped them grow. The United States is considered a financial superpower but in 2002, China surpassed the United States in terms of Foreign Direct Investment or FDI (Foreign Investment in China). Taylor then goes on to talk about the benefits of trade and the decent wages that a positive world economy has. The trade between countries basically works on the concept of comparative production advantage. Taylor says that the world has also become more peaceful with multi-national corporations providing jobs all over the world. And that globalization is a cause worth defending because it has done so much good in the world in increasing jobs and funding for education.
On the other hand, despite all the good caused by globalization, wars and problems do occur. Prime examples of this would be former Yugoslavia and Rwanda but these wars were caused by conflicts over political power, culture and religion not by trade issues. Lets look at China again. Despite the many benefits globalization has led to China, It has also caused many disadvantages. For instance, In order for China to keep up with its increasing demand to export goods and international trade caused by globalization it needed to build more factories for their goods and so enabled China to experience a notable increase in the range and extent of serious environmental problems.
China is the second largest oil consumer in the world today so due to the excess usage of these harmful fossil fuels, we release harmful gases into the atmosphere which increases environmental problems. In many parts of China, people now face critical water shortages, severe air and water pollution problems, serious soil degradation, desertification, sand storms and flooding. Due to very cheap labor countless urban workers face occupational health threats and farmers are routinely exposed to high levels of toxic pesticides. Moreover, in their efforts to increase their own standard of living, either through production for the global market or for their own consumption, Chinese people broadly speaking